Best implementation practices & suggested features for modern accounts receivable platform

Finance leaders face increasing pressure to modernize their accounts receivable process and move beyond extremely basic collection methods. To understand this evolution, many organizations first ask what revenue cycle management is. A modern accounts receivable platform is more than just a digital upgrade—it's a solution that transforms manual, time-consuming AR tasks into streamlined, automated workflows that drive business value.

Core components of an AR platform

Understanding the essential components of a modern accounts receivable platform helps organizations evaluate AR automation solutions that match their needs. Understanding these core elements is crucial for any organization exploring accounts receivable automation software and how it can create an order-to-cash process that supports strategic decision-making. Their integration enables finance teams to move beyond tactical processing to focus on value-adding activities that drive business growth. See our accounts receivable services to learn how these components work together in practice.

• Credit management capabilities: Modern AR platforms begin with credit management tools that streamline application processing and ongoing monitoring. These solutions enable faster credit decisions while maintaining risk assessment protocols, helping businesses balance growth with prudent credit policies.
• Invoice delivery and processing: Advanced platforms support multi-channel invoice delivery, adapting to customer preferences. Whether through electronic delivery, AP portal connections, or traditional methods, these systems ensure invoices reach customers promptly and accurately.
• Payment acceptance and processing: Payment functionality supports various payment methods and channels, from traditional credit card and ACH payments to emerging digital payment options. Modern platforms streamline payment acceptance while optimizing processing costs and maintaining security.
• Cash application automation: Intelligent cash application capabilities automatically match incoming payments with outstanding invoices, dramatically reducing manual effort. This automation handles complex scenarios, including partial payments and multiple invoices, while maintaining high accuracy rates.
• Collections management: Built-in collections tools help teams prioritize activities and reduce late payments while maintaining positive customer relationships. These features support collection efforts while maintaining positive customer relationships through consistent, professional communication.
• Analytics and reporting: Reporting tools provide real-time visibility into AR performance metrics, helping leaders make data-driven decisions. These analytics span the entire order-to-cash cycle, offering insights for ongoing improvement.
• Integration capabilities: Modern platforms offer seamless integration with existing business systems, particularly ERP solutions, ensuring smooth data flow and process consistency across the organization.

Read the blog → What is accounts receivable automation software?

Benefits of implementing an AR platform

Implementing a modern accounts receivable platform delivers value across multiple dimensions of business operations. Organizations often discover strategic advantages that strengthen their competitive position. The impact extends beyond the finance department to affect customer relationships, business scalability, and market agility.

• Operational efficiency: By implementing accounts receivable automation, teams can focus on activities that drive value. This improvement extends across all AR functions, from invoice delivery to cash application.
• Cash flow optimization: Automated processes, combined with improved visibility and control, help organizations accelerate cash flow through faster invoice delivery, payment processing, and cash application.
• Customer experience enhancement: Self-service capabilities and flexible payment options improve customer satisfaction while reducing the burden on AR teams. Digital tools enable customers to manage their accounts, accessing information and making payments on their terms.
• Compliance and security: Modern platforms maintain security protocols and stay current with evolving compliance requirements, reducing risk and ensuring regulatory adherence.

Successful implementation of an accounts receivable platform requires more than technical expertise—it demands a strategic approach to organizational change. A well-planned implementation considers the needs of all stakeholders while maintaining focus on key business objectives. The right approach balances quick wins with long-term value creation.

• Stakeholder alignment: Begin by aligning key stakeholders around project goals and expected outcomes. This alignment should include representatives from finance, IT, and affected business units.
• Change management strategy: Develop a change management plan that addresses both technical and cultural aspects of the implementation. This plan should include clear communication strategies and support mechanisms.
• Data migration planning: Carefully plan data migration activities, including data cleaning, mapping, and validation steps. This planning helps ensure accurate system configuration and smooth cutover.
• Training and support: Implement thorough training programs for both staff and customers, ensuring all users can leverage new system capabilities.

Common implementation challenges

While implementing an accounts receivable platform brings significant benefits, organizations should prepare for potential obstacles along the way. Understanding common challenges helps teams develop proactive strategies to address them. Success often depends on how well organizations anticipate and plan for these typical implementation hurdles.

• Integration complexity: Address technical integration requirements early, including connections with existing accounting software and ERP systems.
• Data quality issues: Establish data quality standards and cleanup procedures before migration begins. This proactive approach helps prevent issues during and after implementation.
• User adoption: Create adoption plans that address both internal and external user needs, including training resources and support mechanisms.

Measuring the return on investment from an accounts receivable platform implementation requires a comprehensive view of both direct and indirect benefits. Organizations should consider not only immediate cost savings but also long-term strategic value. A well-structured ROI framework helps justify the investment while providing benchmarks for ongoing performance evaluation.

• Performance metrics: Establish clear performance metrics aligned with business objectives, tracking improvements in key areas such as DSO, cost per invoice, and customer satisfaction.
• Success measurement: Implement regular reviews of system performance and business impact, adjusting strategies as needed to optimize results.

Future-proofing your AR platform

As business needs and technology capabilities continue to evolve, organizations must ensure their accounts receivable platform can adapt and grow. Forward-thinking companies consider not only current requirements but also emerging trends that could affect future operations. The right platform should support both immediate needs and long-term strategic objectives.

• Scalability planning: Ensure the platform can grow with your business, supporting increased transaction volumes and new business requirements.
• Innovation readiness: Choose a platform that demonstrates ongoing innovation and ability to adapt to emerging technologies and business needs.

Read our whitepaper → The state of accounts receivable: A guide to modernization

Implementing a modern accounts receivable platform represents a significant opportunity for organizations to transform their financial operations and position themselves for future success. The journey from selection through implementation requires careful planning, strong stakeholder engagement, and a clear vision of desired outcomes. While challenges may arise along the way, organizations that follow best practices and maintain focus on their strategic objectives can achieve substantial improvements in cash flow and customer satisfaction. The key lies in choosing a platform that not only meets current needs but also provides the flexibility and innovation potential to address future requirements.

Ready to transform your accounts receivable processes? Schedule a consultation with Billtrust's AR experts to learn how our unified platform can help you control costs, accelerate cash flow, and improve customer satisfaction. Contact us today to start your journey toward AR excellence.

For over two decades, Billtrust has been the leading provider of order-to-cash solutions helping businesses gain efficiencies, grow revenue, and increase profitability. Our unified accounts receivable platform combines industry-leading AI technology with deep financial expertise to help organizations control costs, accelerate cash flow, and improve customer satisfaction. Serving 2,400+ customers worldwide and processing over $1T in invoice dollars annually, we bring extensive experience across 40+ industries to every client relationship.

What sets us apart is our approach to accounts receivable transformation. While others offer point solutions, Billtrust delivers a unified platform that streamlines the entire order-to-cash cycle. Our solutions are ERP-agnostic, globally capable, and designed to scale with your business. Most importantly, we maintain an unwavering commitment to customer success, partnering with you every step of the way to ensure you achieve maximum value from your AR automation investment.